Medlar Music Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04499831 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2018

for

Medlar Music Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A M Hastings

Mrs A Hastings

SECRETARY:

A M Hastings

REGISTERED OFFICE:

3 Combeside

Lyncombe Vale Road

Bath

BA2 4LU

REGISTERED NUMBER:

04499831 (England and Wales)

ACCOUNTANTS:

Moore Stephens

Chartered Accountants

30 Gay Street

Bath

BA1 2PA

FIXED ASSETS

Tangible assets

3

1,296

3,002

CURRENT ASSETS

Debtors

4

1,564

624

Cash at bank

6,504

10,628

8,068

11,252

CREDITORS

Amounts falling due within one year

5

8,551

13,472

NET CURRENT LIABILITIES

(483

)

(2,220

)

TOTAL ASSETS LESS CURRENT LIABILITIES

813

782

PROVISIONS FOR LIABILITIES

246

590

NET ASSETS

567

192

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

565

190

SHAREHOLDERS' FUNDS

567

192

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 April 2019 and were signed on its behalf by:

A M Hastings - Director

1.	STATUTORY INFORMATION

Medlar Music Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive income

or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that

are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 August 2017

1,306

23,517

24,823

Additions

-

139

139

At 31 July 2018

1,306

23,656

24,962

DEPRECIATION

At 1 August 2017

871

20,950

21,821

Charge for year

109

1,736

1,845

At 31 July 2018

980

22,686

23,666

NET BOOK VALUE

At 31 July 2018

326

970

1,296

At 31 July 2017

435

2,567

3,002

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Trade debtors

462

462

Other debtors

1,102

162

1,564

624

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Trade creditors

-

38

Taxation and social security

6,851

10,736

Other creditors

1,700

2,698

8,551

13,472

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.18

31.7.17

value:

£

£

2

Ordinary Shares

1

2

2

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in debtors is £862 owed to the company by the directors, Mr and Mrs Hastings (2017 -

£106 owed by the company to the directors, included in creditors). This balance has been repaid to

the company in full within nine months of the balance sheet date.